Estimated development oil well completions in 2015 fourth quarter fell 55 percent compared to 2014 fourth quarter estimates. Estimated development gas completions decreased 37 percent over the same period.

Iran's annual average crude oil production is forecast at 3.1 million b/d in 2016 (10% of projected total OPEC production), and almost 3.6 million b/d in 2017.

According to preliminary figures for 2015, the gas deliveries grew by 23.6 per cent to 1.7 billion cubic meters.

Nord Stream 2 will be built, according to Gazprom’s chairman of the board, Viktor Zubkov. “This means that customers will receive gas at favorable prices, but for this we need reliable sources of supply and uninterrupted means of transportation,” he said.

В ходе встречи обсуждался ход реализации проекта строительства в Пакистане газопровода «Север-Юг», который станет первым крупным совместным проектом в нефтегазовой сфере в новейшей истории двух стран, и перспективы поставок сжиженного природного газа на регазификационные мощности Пакистана.

Iran is in a good position to deliver on its target to raise oil output by 500,000 b/d within six weeks and by a further 500,000 b/d six months after that.

Flint Hills Resources LLC, the refining arm of billionaire brothers Charles and David Koch’s industrial empire, said it offered to pay $1.50 a barrel Friday for North Dakota Sour, a high-sulfur grade of crude, according to a corrected list of prices posted on its website Monday. It had previously posted a price of -$0.50. The crude is down from $13.50 a barrel a year ago and $47.60 in January 2014.

«Мы планируем сохранить объем добычи нефти в 2016 году на уровне 2015 года. Наш прогноз - 533-534 млн тонн на этот год» - отметил Алексей Текслер. Первый замглавы ведомства добавил, что на прежнем уровне сохранятся и объемы экспорта: «Незначительное увеличение по отношению к 2015 году возможно за счет увеличения глубины внутренней переработки».

Demand for OPEC's oil will rise to an average 31.65 million b/d in 2016, from 29.90 million b/d in 2015, the producer group said in its latest monthly report.

Although analysts are making cautious predictions in the short term, the EIA also indicates that prices in 2017 may be as high as $3.22/MMBtu, representing a major leap in prices for next year.

"We're playing close attention to the price of oil, and of course that has an important impact on the Canadian dollar, which we're also paying close attention to. In that context, we know that it's doubly important that we think about how we can make investments that have an impact on the economy ... and also think about how we can improve our long-term effectiveness as a country and to increase our long-term rate of growth."

Russia’s OJSC Rosneft has entered a deal with BP PLC to dissolve their Ruhr Oel GMBH (ROG) joint venture as part of a plan by the companies to restructure their refining and petrochemical businesses in Germany.

Nord Stream-2 project would develop rapidly in 2016. The pipeline extension project continues to move ahead, despite opposition to from several European countries

Russia's Gazprom and a group of European companies agreed on the project last year, raising protests mostly among central and southern European countries.

U.S. Rig Count is down 14 rigs from last week to 650, with oil rigs down 1 to 515, and gas rigs down 13 to 135.